The price of a gallon of regular unleaded gasoline has never been higher in Michigan as the cost of gas continues to climb. AAA reports that the average price of a gallon of gasoline in Michigan is now at a record high of $4,314, an increase of more than 30 cents from the previous week.
The 30-cent increase was by far the largest in the country over the past week, with the second-largest increase being in Ohio, where prices rose 19 cents per gallon.
AAA attributes part of the latest fuel price hike to a European Union proposal that would ban imports of Russian oil within the next six months. Given that the crude oil market is already tight, further restrictions mean that prices will continue to be volatile.
Motorists shouldn’t expect much relief at the pumps any time soon, as demand is expected to increase and the weather is starting to turn.
“Increasing gas demand and rising oil prices have pushed prices at the pump higher. Prices at the pump will likely come under upward pressure as oil prices remain above $105 a barrel,” read part of a press release from AAA.
Meanwhile, the national average price for a gallon of ace is now at $4.279 Friday morning, up about nine cents from last week.
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